Tom Gibson, Vice President of JLL’s Hotels & Hospitality Group, has stated that the offering of Iririki Island Resort & Casino is an exceptional opportunity to enter one of the regions fastest growing markets with an institutional vacant possession resort, strong in-place cash flow and substantial development upside.

"Located 200 meters from the central business district, this exclusive island resort features 72 spacious waterfront villas (locally known as farés), five food and beverage outlets, a conference centre, day spa, private beach and an extensive range of other leisure facilities."

Click here to view the full listing on The Hotel Page.

"The resort also features 68 strata titled units, and presents the ability to expand the operational footprint by building new overwater and beachfront villas. Iririki Island Resort & Casino is Vanuatu’s premier casino facility and there are approvals in place to expand the operation into the region’s largest, further cementing its exceptional reputation."

See also: North Queensland Dunk Island for sale - Tom Gibson JLL

Currently a highly profitable operation, there is substantial room for growth following a recent renovation of the Resort and facilities at a cost of circa $23 million, and the property is being offered vacant possession of brand and management allowing an incoming purchaser freedom to choose from a wide range of management opportunities.

Vanuatu is one of the world’s most pristine resort destinations and is an archipelago of approximately 83 volcanic and coral-lined islands covering over 12,000 square kilometres of the South Pacific Ocean. The island nation has recently been witnessing a large increase in tourism visitation from Chinese nationals, with tourist arrivals from China increasing by 30% compound annual growth rate from 2013-2018.

“Vanuatu is in the middle of a complete economic transformation with record investment underway, namely the international airport’s runway extension which will bring new direct flights from Melbourne in June this year.” Mr Gibson said.

The completion of the new runway is forecasted to attract more than one million tourists annually by 2020.

JLL refused to comment specifically on pricing, though it is understood to trade for upper $30 million’s.

Click here to view the full listing on The Hotel Page.

The Island resort is being offered sale via Expressions of Interest closing 19 June 2019.

This is a Feature Property booking

See other major hotel and tourism assets for sale:

North Queensland Dunk Island for sale - Tom Gibson JLL

Sydney CBD hotel for sale - JLL Hotels and Knight Frank

Rydges on Swanston Melbourne hotel for sale

Sydney CBD Veriu Central Hotel for sale - Colliers International